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Kenneth G. Lieberthal Has Been Named Senior Advisoron China Affairs at Cowen Group

NEW YORK, Apr 07, 2011 (BUSINESS WIRE) —

Cowen Group, Inc. (“Cowen”) (NASDAQ: COWN) today announced that Kenneth
G. Lieberthal, director of the John L. Thornton China Center and senior
fellow in Foreign Policy and Global Economy and Development at the
Brookings Institution, will act as a senior advisor to Cowen’s
management team on its China expansion strategy.

“Cowen is very focused on the increasing presence of China in the global
capital markets and its growing importance as an economic force,”
commented Cowen’s Chief Executive Officer and Chairman, Peter Cohen.
“Dr. Lieberthal brings a level of expertise on China that we believe is
unmatched and will be invaluable to our continued expansion into this
significant region.”

With more than 25 senior professionals located in offices in Beijing,
Shanghai and Hong Kong, Cowen Latitude Asia, Cowen’s wholly-owned
subsidiary, has been very active in China since 2008. Cowen has
completed a broad range of transactions in China including IPOs,
convertible bonds, private placements and has advised on both buy side
and sell side mergers and acquisitions. In 2010 alone, Cowen completed
12 transactions emanating out of China.

Prior to his role at the Brookings Institution, Mr. Lieberthal was a
professor at the University of Michigan from 1983 to 2009. Mr.
Lieberthal also served as special assistant to the president for
national security affairs and senior director for Asia on the National
Security Council from August 1998 to October 2000. His responsibilities
in those government roles encompassed U.S. policy toward Northeast and
East Asia.

About Cowen Group, Inc.

Cowen Group, Inc. is a leading diversified financial services firm
providing alternative investment management, investment banking,
research, and sales and trading services through its business units,
Ramius and Cowen and Company. Its alternative investment management
products include hedge funds, fund of funds, real estate funds,
healthcare royalty funds, cash management and commodity trading funds,
offered primarily under the Ramius name. Cowen and Company offers
industry focused investment banking for growth-oriented companies,
domain knowledge-driven research and a sales and trading platform for
institutional investors. Founded in 1918, the firm is headquartered in
New York and has offices located in major financial centers around the

SOURCE: Cowen Group, Inc.

Cowen Group, Inc.
Peter Poillon, 646-562-1983
Director of Communications